Legal Question in Business Law in New Jersey

Re: Operating While Insolvent

Absolutely. If you still conduct business under the corporate name while the corporate charter has been revoked or the corporation is insolvent, you may be held personally liable for the debts incurred. You can contact me for for a no cost consultation at 908-213-0600 Glen H. Chulsky.

Re: Operating While Insolvent

Hope springs eternal and all business have ups and downs which means being technically or equitably insolvent....having not enough money to pay the bills as the come due. A lot of business resort to factoring capital which can make the problem worse. Bankruptcy is an option but not always the best. Don't let your money problems cause you to misrepresent to creditor or vendors which can be a problem with "operating" insolvent. Don't mislead and be candid in terms of what you say.